Business Permits

Service:

Permit for operating Pharmacies

Why do I need to do this?

Permit for operating Pharmacies need to be obtained from MED.

Where can I apply for the service?

You may apply online or in person at MED

Ministry of Economic Development, Boduthakurufaanu Magu, Male’ 20125, Republic of Maldives Phone: +960 3323668, Fax: +960 3323840 Email: info@trade.gov.mv

How long will the process take?

Within the same day of application

What are the fees and charges involved?

Fees:

• If the Pharmacy is located in an island with a population more than 10,000, the fee per month is MVR 200. If the business is located in an island with a population less than 10,000, the fee per month is MVR 50. Businesses located at places outside of inhabited islands, the fee per month is MVR 200.

• Revenue Stamp: MRF 10/-

(cheques are acceptable only with bank guarantee)

Which documents do I need to submit?

Document

Check for:

1

Application form

•  All required fields filled correctly

•  Signature / Seal

–      List of items attached – ensure that any items prohibited by the Maldivian law, or allowed only with special permit are not included in list

–      Signature (If applicant is an individual, his/her signature. If applicant is a business/government organisation, signature of an authorised person)

–      Seal (If applicant is a government entity or company registered for more than 15 days

•  Signature of the Building owner, giving consent:

–      If the owner of the building is deceased, consent signature should be provided by the inherent

–      Check the report by the Court stating the inherent of the building

–      If the court has not decided on the inherent of the building, a letter by a son/daughter/next to kin, stating the relationship with the owner, is required

–      If the court has not decided on the inherent, a letter from the customer(applicant) is required stating that:

1. they don’t have any objection to cancel the permit if an inherent submit a complaint

2. And that the decision will be left to the ministry to make

–      If there is an inherent below 18 years, the signature on behalf of the inherent should be provided by the guardian of the inherent.

 

Original/Copy of National Identification Cards of inherent of the building (if applicable)

•  Confirm the ages of the inherent

 

National Identification Card of the applicant (if the customer is an individual)

•  Clear and complete NIC original and copy

•  NIC original and copy of individual who receives the trade permit (upon collection)

•  Applicant should be above 18 years old

•  permit cannot be issued:

–      to people below 18 years

–      in the name of more than one person

 

Approval for the Building by the City Council

•  A copy of the approval document should be submitted.

 

Receipt of the Annual Payment

 

•  If the customer is a Company, Partnership, Corporative Society.

 

 

Letter from Building Owner (if applicable)

•  If the Building has been provided a permit previously, new permit will only be provided after cancelling the previous permit.

•  If a business was running at the building previously and has stopped now, request the customer to provide a letter/document (with signature) from the owner of the Building that the previous business has stopped and the goods have been cleared

 

Revenue Stamp

•  A Revenue stamp of MVR 10.

How do I apply for the service?

Day 1:

1.   Lodge application and documents at counter.

2.   Receive the Invoice

3.   Make the payment

What would I receive at the end of the process?

• Permit

• Payment Slip

Did you know:

• The company’s objectives should include selling or trade of imported goods. If this isn’t included permit for operating pharmacies will not be issued.

• If the company’s shareholders comprise of any foreign individual/company, the permit will not be issued.

• Fees Payment has to be made the same day or else the form and invoice will be cancelled.

• At least one month fee should be paid. If the customer wants to pay for more than one month, the invoice will be made as per their request.

 

References:

• Import, Export and Re-export Regulation

• Companies Act of the Maldives

• Companies Regulation

• Regulation on approval and registration of business names

• Revenue Stamp Law

• SOP Business name approval